Advertisement"A challenge for first-time homebuyers is higher mortgage rates, especially over the last year," Snowden said. "We see that a large share of homebuyers, especially first-time buyers, rely on gifts or loans from family and friends," Snowden said. The share of first-time homebuyers dropped to just 24% in 2024, down from 32% in 2023 and a record 50% in 2010. AdvertisementIn 2024, the median age of first-time buyers was 38, nine years older than in 1981. AdvertisementSince NAR started collecting data, single women homebuyers have outpaced single men homebuyers, but the gap has grown.

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Persons: homebuying, Brandi Snowden, Snowden, hasn't, it's, homebuyers, —, Gen Zers, Gen Xers, Jessica Lautz Organizations: National Association of Realtors, Census Bureau, Department of Housing, Urban Development, NAR, Federal Reserve's Survey, Consumer Finances Locations: America, US